rising wedge broken

2020년 12월 28일

NZDJPY developped and broke a rising wedge, now the price is in a compression mode (red rectangle), it tried to push down last monday but failed, pay attention to the 50 sma in h4 chart, as soon as the price breaks it and closes below it, you can consider to open a sell position with the green zone as a target (around 72.00 could be a nice take profit because there the 50-day ma lies); a daily close above 74.00 will be seen as a real breaout and you will close in loss your trade.
I hope you enjoy your trading!
bye francesco